Tesla Model Y running late ... now due in 2020

Tesla's Elon Musk has released another picture of the Model Y SUV at a meeting held with the US car-maker's investors and shareholders.

The dark, shadowy image doesn't tell us much, other than the pure-electric SUV will have a short snub-nose and a Model X-inspired look.

Confirming the Model Y will be unveiled on March 15 next year, before it enters production "24 months from now", Musk announced that "2020 is a more likely prospect for Model Y".

That has surprised analysts who expected the smaller version of the Model X to be on sale much earlier, in 2019. It's now likely the smaller SUV, which shares much with the Model 3 sedan, will be on sale in the US from July or August 2020.

Set to become Tesla's best-selling model, the Model Y SUV has been touted as the model that will finally deliver the volume needed for the EV-maker to become a sustainable vehicle manufacturer.

Part of Elon Musk's 'Master Plan' is the introduction of a second-generation Roadster, a pure-electric pick-up and a full-size Tesla big-rig.

As well as the models, during the call with investors Musk revealed plans for a further people-mover or, in Tesla CEO's words, a "high density urban transport" vehicle.

Built on the existing Model X platform, the minivan is expected to offer at least eight seats with plenty of luggage capacity.

Musk did not reveal when such a vehicle would be ready, but some have tipped the pure-electric people-mover to be on sale as soon as late 2019.

The reason for the delay of the Model Y, which will rival cars like the Audi Q3, is not known.

Originally, it was thought the switch to the Model 3 platform and use of its powertrains and key components would help Tesla develop the Model Y far quicker than previous models.

Set to come with all-wheel drive and a range of 350km for the standard version and around 500km for long range model, the Model Y is expected to look like a shrunken Model X when it launches, although it's not known if it will feature that car's crowd-pleasing Falcon-wing doors.

During the meeting with potential investors and existing shareholders Musk announced that he also wants Tesla to go head-to-head with the likes of the Volkswagen Golf and Ford Focus.

"I think we'll do a compact car in less than five years," he told investors.

If it eventuates, the small entry-level Tesla is also expected to plenty with the Model 3, which itself remains at least a year away from Australia, to save costs and shortcut development time.